how fico scoring keeps the caste system alive and well in america.....

[MidnightVoice]

I am aiming for the "FICO High Achiever" pool Average by this time next year.

That and a lottery win will solve all my problems  

[Anonymous]

i believe i did change scorecards a week or so ago, which is what brought me to these forums.  i am trying to put myself in good shape for this card, and possibly the next one i hit.

[fused]

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MidnightVoice wrote:

I am aiming for the "FICO High Achiever" pool Average by this time next year.

That and a lottery win will solve all my problems  

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I hope it happens for you!

[MidnightVoice]

fused111 wrote:

I hope it happens for you!

And congratulations on your 500th post 

[fused]

TY

[fused]

Better watch out, at the rate I am posting I'll pass you soon.

[MidnightVoice]

Feel free.

[Anonymous]

Yeah, I worry about the whole scoring pool myself...that some button-pusher somewhere will decide I fall into a different class and drop me fifty points on a whim.

If that happens, I'll likely just say to heck with this whole FICO thing, and buy myself a new computer game to pass the time instead. If by the time I start making money my FICO doesn't recover enough for me to buy a house in America, I'll go back to my old plan of buying overseas.

[Anonymous]

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TheNewWorldMan wrote:
The irony here (to the OP) is that your "credit conservatism" is what has actually held your score down. If you had gotten six or seven CCs, and kept bugging the CC issuers for CLIs every four months starting in 2005 or so, your FICO would probably be 50 to 75 points higher than it is today. Maybe more.

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True that.  I requested a credit line increase from Discover the other day.  They offered me a $100 increase.  I two several accounts with $25K limits.  One that had just become a joint in my favor and another not showing on the report.  Dicover transferred me to a credit analyst and they said the reason for not giving me a higher increase was that I didn't have accounts with higher balances.

The way to increase your score is by borrowing secured or unsecured.  Forget about being conservative.  Just borrow and pay back and do it all over again.  I've refinanced my 2 month old car twice already.  My latest refinance is at 4.5%. Sure you score will drop but that will be temporarily.

You have to realized it's a business.  The CRA's only care about their clients the banks.  And how do the banks make more money? Buy charging higher interest rates that are based on formulas designed to get you to do just that.  So don't be discouraged and use credit more and more.  Remember the dilusion principle.  Dilute bad accounts with good ones.  Dispute everything!!! After that send Goodwill letters.  The most important thing: shop around. I have a 702 FICO.  You can't get a 4.5% rate on an auto loan at some institutions even if you have an 850!

[Anonymous]

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MidnightVoice wrote:

I am aiming for the "FICO High Achiever" pool Average by this time next year.

That and a lottery win will solve all my problems  

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If you win the lottery, you won't care about your FICO score.